Precalculus (6th Edition) Blitzer

Published by Pearson
ISBN 10: 0-13446-914-3
ISBN 13: 978-0-13446-914-0

Chapter 1 - Section 1.3 - More on Functions and Their Graphs - Exercise Set - Page 200: 140

Answer

The amount invested at a rate of $5\%$ is $\$20,000$ and the amount invested at a rate of $7\%$ is $\$60,000$.

Work Step by Step

Let the amount invested at a rate of $5\%$ be x. $\begin{align} & {{I}_{5}}=\frac{PR}{100} \\ & =\frac{5x}{100} \end{align}$ Now, the amount invested at a rate of $7\%$ is $80,000-x$. Therefore, ${{I}_{7}}=\frac{\left( 80,000-x \right)7}{100}$ Therefore, the total interest earned is $\begin{align} & {{I}_{5}}+{{I}_{7}}=5200 \\ & \frac{5x}{100}+\frac{\left( 80,000-x \right)7}{100}=5200 \\ & \frac{280,000-x}{50}=5200 \\ & x=20,000 \end{align}$ Thus, the amount invested at a rate of $5\%$ is $\$20,000$ and the amount invested at a rate of $7\%$ is $\$80,000-\$20,000=\$60,000$.
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